Senior Planning

Whether financial, medical or social, senior concerns are different from other age groups. As a financial advisor for seniors, I keep abreast of the most recent issues by providing education, updates and support assistance regarding new developments, practices, and research about senior citizens.

The fast-changing financial environment has a great effect on even the best of financial plans. I cannot stress enough the importance for seniors in developing and maintaining a financial plan. Portfolio income, preservation, allocation and distribution can all be addressed more effectively through the implementation of a financial plan that best reflects your goals and risk tolerance. An active plan that is reviewed often and reflects the ever-changing effect of financial environments is a must for all seniors.

In my own financial services practice, I use a retirement cash-flow analysis with clients. First, I estimate the amount of inflation-adjusted income that will be needed each year over the remainder of the individual client's or couple's lifetime. Then, I incorporate the various sources of income, including pensions, annuities, earnings, Social Security, and investments. Finally, I do the calculations, and a comprehensive picture emerges.

If the assets will be exhausted before estimated life expectancy is reached, or if excesses will remain, at say age 100, we can determine what adjustments are most beneficial. This calculation should be made periodically using current assumptions, such as inflation rate, growth rate of investment portfolio, unexpected changes, and any changes in financial obligations.

As seniors move into retirement. The tenets that guided the accumulation of their retirement nest egg will give way to the shifting personal circumstances and timing sensitivities of the distribution phase. As an independent financial advisor I will be working to provide solutions to help manage this challenge.